Industry Update: Pharmaceuticals

Industry Highlights

  • On March 30, 2021, Amgen Inc. and Rodeo Therapeutics Corporation announced an agreement under which Amgen will acquire Rodeo, a privately held biopharmaceutical company based in Seattle that develops small-molecule
    therapies designed to promote regeneration and repair of multiple tissues, for $721 million.
  • On February 11, 2021, GSK announced it reached an agreement with Sandoz, a Novartis division, to sell its Cephalosporin antibiotics business. Sandoz will pay GSK $350 million at closing, plus additional milestone payments up to $150 million, subject to the terms of the transaction. The transaction aligns with GSK’s strategy to prioritize and simplify its portfolio and invest in the company’s innovative R&D pipeline.
  • In the first quarter of 2021 Eli Lilly and Company announced and or completed a handful of private investments. These included participation in series B round for Amphista Therapeutics Limited, DTx Pharma, as well as the
    series C round for Evox Therapeutics Limited and Seraxis, Inc. The technologies invested in include protein therapy, cancer therapeutics and exosome-based therapeutics.

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